RAPAPORT... Belgium’s polished-diamond exports increased 5% in the third
quarter as the average price hit a record high of $2,542 per carat. The
September rate of $2,727 per carat was also the country’s loftiest result for
any month, according to Rapaport archives based on data from the Antwerp World
Diamond Centre. That upturn reflected the relative strength of the large-stone
market versus smaller goods, and compensated for a drop in export volumes.

Millions unless stated otherwise

Sept 2018

Year-on-year change

Polished exports

$1,163

-2%

Polished imports

$1,204

0%

Net polished exports

($40)

Deficit grew 128%

Rough imports

$806

-17%

Rough exports

$962

-13%

Net rough imports

($156)

Deficit grew 24%

Net diamond account

$115

6%

Polished exports: volume

426,557 carats

-7%

Average price of polished exports

$2,727/carat

5%

July-Sept 2018

Year-on-year change

Polished exports

$2,747

5%

Polished imports

$2,852

11%

Net polished exports

($105)

2017: Surplus of $55.2M

Rough imports

$2,400

0%

Rough exports

$2,773

2%

Net rough imports

($374)

-4%

Net diamond account

$268

-26%

Polished exports: volume

1,080,566 carats

-7%

Average price of polished exports

$2,542/carat

13%

Jan-Sept 2018

Year-on-year change

Polished exports

$8,877

2%

Polished imports

$9,028

5%

Net polished exports

($151)

2017: Surplus of $53.5M

Rough imports

$8,285

3%

Rough exports

$9,624

3%

Net rough imports

($1,338)

Deficit grew 8%

Net diamond account

$1,188

-8%

Polished exports: volume

3,623,580 carats

-3%

Average price of polished exports

$2,450/carat

5%

Source: Antwerp World Diamond Centre; Rapaport archivesAbout the data: Belgium is usually a net exporter of polished diamonds.
As such, net polished exports — representing polished
exports minus polished imports — will normally be a positive number. The nation
is also a net exporter of rough. While Antwerp is home to some high-value
manufacturing, its main role in the market is as a facilitator of rough-diamond
trading, with companies from around the world coming to the city to buy rough.
The net
diamond account is total rough and polished exports minus
total imports. It is Belgium’s diamond trade balance, and shows the added value
the nation creates by exporting rough or manufacturing it into polished.Image: Models show off diamond rings at the Kimberley Process intersessional meeting in Antwerp in June. (AWDC)